tv Forbes on FOX FOX Business January 27, 2013 2:00am-2:30am EST
>> stocks hitting multiyear high this week. adam? >> charles, the media and telecomfund. media stocks are surprisingly strong this is a mutual fund to play that. >> ben, what do you think? >> i think the time to buy them is when they are weak and not strong. it is a good pick. i am a fan of price. >> it is hard to find things weak now. what do you like now?
>> i like market bpi. that is my usual pick. some do better than others. over time you can't do wrong. >> it is long periods of time. >> i do.everyone should be watcg dave asbin on forbes on fox. >> no wonder union guys are throwing punches like this. they are looking at dwindling numbers. unions are losing 400,000 members last year. leaders are blaming it on government spending cuts and stories like this. bus tires are slashhed and disabled kids are stranded in the middle of the union driver strike should unions be blaming themselves? i am dave asbin.
welcome to forbes on fox. steve, and elizabeth and rick and mike and bill. steve, who do unions have to blame for >> the public sector salaries are unaffordable . private sector, people are find figure you want real growth, you can't be strangle in the work rules. in chicago, unions made a few concessions because conventions are saying we'll not come and can't get anything done. >> there is a sense that the unions care more about the political power than jobs. look at what happened to boeing 747 and twinkies . american airlines. they went bankrupt. >> i will not deny that unions haven't played a roll in shooting themselves in the foot.
they did to some deagree. you do find that 50 percent of it was due to anticollective bargaining agreements that we are seeing in the states . right to work legislation . these things are taking a toll. we are seeing the thing that is unions spent so many years fighting for is now codified as part of federal law. it is not over yet. california numbers are going up. >> emac. the fact is, a lot of right to work laws are hurting the unions and people are voting for them. they spent million in trying to defeat the right to work laws. they are winning in michigan and now pushing in pennsylvania. >> when you look at what is going on with the union movement. the drop came because of drop in government workers. they are saying it is not worth the aggravation and
paying dues for what. we are getting the benefits, but the union is not representing us and benefits are getting cut. wisconsin was a watershed moment. if the unions made concessions that governor walker wanted and they vote for the union reform they may have had collective bargaining and they shot themselves in the foot in wisconsin. >> bill, when unions take a stand it is usually a situation that ends up with fewer jobs with twirchingis and american airlines? >> i don't glareagree. i think the decline in cosmic things like the pacific ocean . easy to ship goods in from china. what might save the unions, the fact that the chinese are no longer willing to work on assembly line for safe wangs. in china factory jobs are
paying better than office jobs . >> they are spending millions trying to win things they are losing. >> the governor from wisconsin, scott walker, they spent millions trying to defeat him and they lost. >> the purpose of unions is to get members more and have them do less. that runs counter to productivity. the only way economy grows is adding more people. unions run counter to that and why more people are against them. >> steve when they spend millions on issues they are losing, that is union dues money and doesn't fall out of the sky. >> yes, they are heavily in politics and union members don't have to pay for politicing and focusing on the bargains they don't pay the dues. it is overreach. >> are they toothless tigers.
>> no, you have to keep an eye on this. the great state of california numbers are on the swing. they are coming from the latino community. one group of people that republicans are trying to become friends with. >> look at overall figures. union members down below 7 percent, emake. >> that's right. we haven't seen this in decades, david. the gig is uon the other side of the aisle. taxpayers realize that government unions lobby for more spend more tax hikes and meaning property taxes go up. why? to pay for the benefits . taxpayers are saying wait a second, we get it . the union members understand the back lash, too. >> bill, your back shot was hard to digest, but there are so many overseas jobs that used to go to unimembers here.
is there any way unions can bring those jobs back to china back home. >> yes, manufacturing jobs are coming back to north america because china is coming back. i disagree that the unions are on the defensive when it comes to government. they own government. >> one place it is growing is public sector. >> ebe mac touched on the reason why. government doesn't compete. they raise taxes. private sector where business is up to compete on the price of the product. unions make companies less competitive. >> what does it say about unions. they used to represent . people were proud to put the union label on the product. is that still true, steve? >> no, all you have to do is lookk at detroit and the legacy and companies that went in to right to work states and
they paid competitive wages and did well in a normal economy and the unions outlived their usefulness. >> rick, do unions have a pr problem and have to say go back to basics and say we make better products. >> they do have pr problems but a healthy chunk of that is the effort to discredit them and it took root. >> hold on, emac. it is not hard to discredit richard trunka who? in my eyes was like a thug. look what he did in the united mines. the folks perception is that they are thugs and not helping the union membership. >> their rhetoric goes in hyper drive and profoundly irerational of the things that unions are saying. i believe in protecting the work force. but you want a rational union leadership that we don't have
own economy and our fiscal situation. that is a given because that is the source of our strength and our capacity and we also have to be smart about making the right invest ams of diplomacy and development in trying to solve problems and prevent them. >> outgoing secretary of state calling for more foreign aid to middle east and afri campt it is reported that the three americans killed in the algeria were killed with weapons from libya where the u.s. has been pumping millions in aide. this is where foreign aide should be based on performance. >> in politics, they need to take a cue from well run business. look at afford and goals and not send f-16 fighter jets to countries that want to eliminate israel. >> rick, in this case, the investment mean what way they
perform for us in our interest and not in their own? >> yes, you are looking for quality performance, you will be happy to know that the obama administration put in the staunchest problem to do that. i want to be david when i grow up. here is the report. there is tough measures. >> good role model. >> i couldn't agree more. one problem to recognize, certain amount of the foreign aid goes to places where we might not want to know where it is going to accomplish the goals we need to accomplish . do we want to consider exposing everything. >> money going to egypt run by the muslim brotherhood. >> tipecal of secretary clinton. when there is a problem throw more money at it and most foreign aid is a waste of money it may be military aid
to friends. but it hinders economic development and does not promote it. >> you heard that egypt will get f-16 fighter jets and again going to the muslim brotherhood, is that right? >> no. it is not right and give it to strengthen our embassy and military presence. this country feels that it is entitled to our money. time and again, egypt has behaved in the most irrepreentible manner. the president of egypt said the hatred of jews should be instilled in children. say i get to punch you in the nose every day . each time you have to pay me a $100, would you take that. >> no. >> there you go. there is proof positive. >> what about this.
>> it is ceened of return on our investment. >> so far we have poured a trillion of economic in the third world over the past half century with little to show for it the recipients don't value basic tenants was liberty that make capitalism work. have a win or take all contest . honestly, the winner would be the country that has the best record on democracy and free speech and property rights. >> make them fight for it and if they win they get the whole bill of goods. >> that is hysterical. >> something else we are not talking about. corruption. a lot of the aid programs. a lot of them do have corruption built in . the money ends up not going to the poor farmers but the rich folks in the top of the food chain. >> and ultimately the checks
and balances are with us the voters. we put people in politics while we give aid to africa and have trade restrictions on businesses in africa that want to export. we defeat the reason of the investment in the first place. no matter how much foreign aid. the incompetence surrounding benghazi and f-16 scandered all of the usefulness. >> there is a justice department probe on contract rigging . so there is corruption here. >> it was the corruption i referenced in my first comment. unfortunately we don't always want to know where it goes. steve forbes took his first hillary clinton shot for the 2016 campaign it happened this morning. >> there will be a lot more to come not just based on this. but what she stands for in terps of taxing and spending .
>> emac, will we get these things run right? no matter how we try to parcel out the foreign aid some willepped up in the wrong hands? >> that's true. jfk who instituted the foreign aid program was right in saying we need to spread american democracy and freedom around the world. he said to be prus dent and effective and that is not what is happening now it is not right to give taxpayer money to brutitality in over seas. >> emac is getting the last world this week time after time. >> and phil mickleson and tiger woods driving home a tax message to help save green, not on the course but green in your wallet. >> and first, right here on forbes. one lawmaker pushing to put more pork in dc's diet despite
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responsible, fair earmarkings. >> democratic congressman want to bring back responsible earmarks and republicans led a push to stop the pet pork products several years ago . here is why. money going to research. monkeys taking cocaine. exoticants and using yoga to treat hot flashes and the so-called bridge to no where in alaska. bringing back earmarks institutionalizes the pork. >> it is like saying responsible alcoholism. it lubricates corruption . massive spending bills and obama care and the like. the only time we should have that kind of pork stuff is pass the flat tax otherwise ban them. >> rick, you had a piece a couple of months ago saying
congress cannot operate without earmarks. >> it is interesting. i got on to a piece after a conversation with jack who got me think being it. before the moratorium went into affect. we had a much easier time getting things through congress. 15 billion before the moratorium on earmarks and it got people to vote for bimings. is it unpleasant? it kind of is. but steve said it is lubrication. >> emac, there is another thing. the kind of thing despite the law still on the hurricane sandy bill had pork in there. >> it is right . that doesn't equate thary - mark band has anything to do with grid lock. but the time and again. congress does the drink
country gets the hang over. when they don't exert budgetary displinn. i don't see it. you can see in the appropriation's bills a lot pork spending. >> i will nolt say lubricate but does the grease the skids . >> that is better. >> it may grease our way in solvencey. but large in the psychological affect and reenforce free lunchhism . the idea that congress promises goodies forever and ever and never send a tax bill to pay for them. >> once again, it is our money and not their money tho that they are bribing with. it is our money. >> weather you have ear marx or don't have earmarkings. you will have huge deficits and you will be problems as long as obama who wants to